Indian benchmark stock indices, the Sensex and Nifty, commenced trading on a positive note this morning, driven by upbeat global market sentiment. The upward trend was further bolstered by crude oil prices remaining below the $100-per-barrel mark, alongside growing anticipation of a potential peace deal between the US and Iran.
As of 9:17 am IST, the BSE Sensex climbed 132.23 points, or 0.18%, reaching 75,315.59. Earlier in the session, the index had surged by as much as 195 points. Concurrently, the NSE Nifty gained 39.85 points, or 0.17%, to 23,694.55, briefly touching a high of 23,710.80.
Leading Gainers in Early Trade
Among the Sensex constituents, several stocks registered notable gains:
- Bajaj Finserv surged 0.77% to Rs 1765.50.
- Maruti Suzuki advanced 0.72%.
- UltraTech Cement rose 0.65%.
- Trent gained 0.61%.
- ICICI Bank also increased by 0.61%.
VK Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd., commented on the prevailing market trend: "An important recent trend in the market is buy on dips and sell on rallies. Low openings are bought into and high openings are getting sold. Institutional activity must be playing a role in this." He also highlighted brisk activity in the broader market, with small and midcaps showing positive responses to strong results and optimistic growth projections.
Global Market Overview
The positive sentiment extended to broader Asian markets, which traded higher today. Japan’s Nikkei 225 saw a significant surge of 2.29%, reaching 63,094.61. South Korea’s Kospi climbed 0.38% to 7,845.40, and Hong Kong’s Hang Seng gained 0.83% to 25,598.32.
Overnight, Wall Street also concluded with gains across its major indices. The S&P 500 advanced 0.17% to 7,445.72, the Dow Jones Industrial Average rose 0.55% to 50,285.66, and the Nasdaq Composite edged up 0.09% to 26,293.10.
Previous Session Summary
In the preceding trading session on Thursday, both Indian benchmarks had closed marginally lower. The Sensex declined 135.03 points, or 0.18%, to settle at 75,183.36, while the Nifty edged down 4.30 points, or 0.02%, to close at 23,654.70.
Hitesh Tailor, Research Analyst at Choice Equity Broking Private Ltd, noted that the "overall market sentiment appears to be moderately positive in the near term." However, he cautioned that the inability of benchmark indices to sustain at higher levels in recent sessions suggests continued stock-specific action and intermittent volatility. Sustained moves above immediate resistance zones are crucial for strengthening bullish momentum.